African Oil Industry endorses Cape VII Congress in E-Guinea

The African Energy Chamber has endorsed the APPO Cape VII Congress and Exhibition to be held in Malabo, Equatorial Guninea on April 2-5, 2019.

Hosted by the African Petroleum Producers Organization under the Auspices of President Obiang Nguema Mbasogo, the summit will include a first-level meeting of oil ministers from the four corners of the continent, at a time when Africa is trying to boost its energy cooperation and promote infrastructural collaboration. Current APPO President, Nigerian Petroleum Minister Dr. Emmanuel Ibe Kachikwu, announced last month that the organization would mobilize up to $2bn to promote such collaboration across African oil markets.

Oil

“The oil industry is proud to support African oil nations as we desperately need to speed up our collaboration efforts and develop joint projects to maximize efficiency across the value-chain. From transnational pipelines to shared gas development infrastructure, collaboration can play a considerable role in boosting hydrocarbons developments,” declared the Chamber’s Executive Chairman NJ Ayuk. “We must do everything to improve the business climate by embracing better governance, limited government’s role in business activity, low taxes, and regulatory efficiency.”

The Congress will also be central in promoting, and advocating for, a stronger African content throughout the value chain. APPO plans to achieve a 30 percent share of local content services provided to the African hydrocarbons industry by 2030, which requires harmonizing local content laws and regulations across oil jurisdictions.

“Local content is at the core of Africa’s energy industry future. Without increased dialogue between the oil industry and governments, the regulatory frameworks needed to build local capacities cannot be properly implemented,” added NJ Ayuk. “We congratulate APPO on making such strong commitment to the African content. The oil industry is ready to share with APPO members best practices that have worked and delivered results and opportunities that improved the quality of life of everyday Africans through jobs.”

The APPO Cape VII Congress & Exhibition is organized by Africa Oil & Power and is part of Equatorial Guinea’s Year of Energy 2019, which will also see the organization of the Gas Exporting Countries Forum’s 5th Gas Summit in Malabo next November. The African Energy Chamber is a strategic partner of the APPO Cape VII.